The approach is based on what can clearly be accomplished, rather than relying on indirect strategies for cutting emissions or boosting energy efficiency, including trading
systems for emissions credits.
Not exact matches
Assuming a global
system that would put a price on carbon
emissions, the scientists then calculated the value of carbon
credits awarded to homeowners and businesses
for making their roofs and streets lighter.
The UN expects China to account
for 41 % of all carbon
credits issued by 2012, but a recent paper in Nature suggests that a loophole in the
system has allowed investors to get rich without cutting significant amounts of
emissions.
For now, the European
emissions trading
system has emerged as the core of a nascent global market because it features the strongest institutions and exchanges the greatest volume of
credits.
-- The Administrator may establish by regulation criteria and procedures
for determining whether, and
for implementing a determination that, the expiration of an allowance, offset
credit, or term offset
credit, established or issued under the American Clean Energy and Security Act of 2009 or the amendments made thereby, or expiration of the ability to use an international
emission allowance to comply with section 722, is necessary to ensure the authenticity and integrity of allowances, offset
credits, or term offset
credits or the allowance tracking
system.
Today's workshop on «Benefits Sharing and Safeguards»
for policies to Reduce
Emissions from Deforestation and Forest Degradation (REDD +) also included newly released recommendations
for how California can bring REDD + offset
credits into its statewide cap - and - trade
system with environmental integrity and social equity.
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They argued that the trading
system provides far too much leeway
for dealing in «offsets,»
credits earned by avoiding or preventing
emissions of carbon dioxide.
Back in 2003, I felt that the technology to establish
credits for «carbon removal» from the atmosphere was not sufficiently developed to warrant inclusion of such a
system in an offset
system proposed
for Canada — even though removal of carbon from the atmosphere and long term sequestration seemed to have more merit than simple
emission reduction.
Gates hammered on points reported here
for many years: that without a big, and sustained, boost in spending on basic research and development on energy frontiers, the chances of triggering an energy revolution are nil; that while the private sector and venture capital investors are vital
for transforming breakthroughs into marketable products or services, they will not invest in the long - haul inquiry that's required to generate game - changing breakthroughs; that a 1 or 2 percent tax on carbon - emitting fuels could generate a large, steady stream of money
for invigorating the innovation pipeline; that a declining
emissions cap and
credit trading
system --- if it could survive America's polarized politics --- would have to raise energy costs far beyond what would be politically tenable to generate a similar scale of transformational activity.
He listed areas where deals might be reached, including: finding ways
for wealthy countries to get
emissions credits by paying
for the protection of forests in poorer nations; the Clean Development Mechanism, a
system for encouraging other kinds of investments that cut poor - country
emissions; and
systems for sharing technology.
Yesterday, Senator Richard Lugar, a moderate Republican from Indiana, proposed breaking the impasse with the Lugar Practical Energy and Climate Plan, which lacks the most contentious element, an
emissions cap and trading
system for pollution
credits.
For example, an effective
emission credit trading
system will require some form of taxation of carbon dioxide
emissions embodied in imports from nonsignatory countries.
And we've developed some of the most robust reporting and monitoring
systems that ensure carbon
credits represent real, measurable and additional
emissions reductions,» said Simon Henry, program director at the International Carbon Reduction and Offset Alliance (ICROA), which funded the research
for this article.
-- The Administrator may establish by regulation criteria and procedures
for determining whether, and
for implementing a determination that, the expiration of an allowance, offset
credit, or term offset
credit, established or issued under the American Clean Energy and Security Act of 2009 or the amendments made thereby, or expiration of the ability to use an international
emission allowance to comply with section 722, is necessary to ensure the authenticity and integrity of allowances, offset
credits, or term offset
credits or the allowance tracking
system.
Auctions based on marginal costs wont allow
for recovery of investment, which is why states and RTO / ISOs have attempted to address the obvious shortfalls of the auction
system by adopting workarounds, to feed money to baseload power plants, e.g., special features such as maintenance fees, or, as in New York State, the establishment of zero -
emission credits.
A
system of
credits for avoided deforestation, known as REDD (Reducing
Emissions from Deforestation and Degradation), will be up
for discussion at the next round of Kyoto talks in Copenhagen in 2009.
The regulation also cites ACR's voluntary offset methodology
for Emissions Reductions in Rice Management Systems as an approved Early Action Quantification Methodology, providing an important on - ramp for rice producers in California and the Mid-South to get credit for their pioneering initiatives to reduce methane emissions through practice changes in water management, such as reduced flooding and altered drainag
Emissions Reductions in Rice Management
Systems as an approved Early Action Quantification Methodology, providing an important on - ramp
for rice producers in California and the Mid-South to get
credit for their pioneering initiatives to reduce methane
emissions through practice changes in water management, such as reduced flooding and altered drainag
emissions through practice changes in water management, such as reduced flooding and altered drainage timing.
But vehicle standards aimed at reducing
emissions and fuel consumption shouldn't include
credits for potential positive changes to transportation
system emissions while ignoring the negative ones.
Among the most significant changes in the new rules:
Credits have been reweighted to give additional points
for building
systems and materials that contribute more directly to greater energy efficiency or lower carbon
emissions.